images 7 - Why should a person give a security deposit as well as other fees?

Why should a person give a security deposit as well as other fees?

Titiwangsa apartment for rent as well as the Titingwasa house for rent provides for best and affordable options in deciding where to rent a place to live. Just like all other renting of apartments and houses, even the Titingwasa condo for rent requires tenants to have a security deposit once they decide to rent the place. So what is a security deposit?

download 33 - Why should a person give a security deposit as well as other fees?

This is usually an advanced payment asked by the landlord from the tenants. Usually it amounts to an equivalent two and a half month rent. This is kept by the landlord as insurance money in cases where tenant breaches agreed rules and regulations when renting. For example when a tenant decides to leave even before completing the certain period agreed first or when there is damage to the area before leaving then this security deposit is used to compensate for such occurrences. If there are no untoward events and the tenant decides to transfer then the security deposit is returned. Before fully committing to renting a place, ask landlords how to go about with the security deposits, how much you will be paying in advance along with your regular monthly rent and whether it is fully returned once agreement is completed. As said earlier, security deposits are usually two and a half months with the two months advance rental fee and the half amount is for the utility fee. Still there are some who ask aside from the security deposit also the payment for the first month. You should consider these so that you won’t be shocked if you have to pay more instead of your calculated payment. An advice to getting a lower security deposit or even lower rental fee, try to ask the landlord to give you a discount if you will be renting the place for a longer period like a year or more of course stipulated in the contract. Other owners would likely agree especially if you plan to rent for more than five years.

Another fee one faces when renting is the stamping fees. You should ask your landlord about these. For example if you have an annual rental of 2,500 USD then any 250 USD excess of that will have a corresponding stamping which differs from state to state that is why you have to ask your landlord. Also you have to clarify with your landlord whether fees like water bills and electric bills or even parking bills are already included with the rent or you have to pay it separately? Especially if you have a car, then do you have to pay separately for the parking privileges or is there even a parking lot available in the first place.

If not considered properly, this will cause higher rental fees and you will be shocked during payment time. Thus it is best to check all the fees you can incur once renting that specific place. Doing so will save you from a lot of hassle later on. It is better to be vigilant with other fees from the start of the agreement than have the shock of your life later on.